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to avert the so-called fiscal cliff, those are the tax increases and spending cuts that will take effect next year. republicans and democrats continue to squabble over raising taxes and sparing entitlement programs like medicare and medicaid. today the president discusses the issues with leaders of major corporations. he met with small business leaders yesterday. susan mcginnis is in washington. >> reporter: while the two sides remain deadlocked president obama is taking his case to the american people trying to drum up support. republicans are complaining that instead of being out campaigning he needs to sit down with them and work out a deal. it's a short drive up pennsylvania avenue from the capital to the white house but congressional republicans and president obama are getting farther apart in their effort to keep the nation from veering off the so-called fiscal cliff. a series of tax hikes and spending cuts due to kick in at the end of the year. >> seems like our friends on the other side is having difficulty turning off the campaign. >> reporter: the white house says the campaign
on the so-called fiscal cliff. some republican lawmakers are talking compromise as they try to reach a deal to avoid the tax increases and spending cuts due to kick in early next year. susan mcginness is in washington with all details this morning. good morning to you. >> talks are starting on capitol hill this week amid new signs republicans are willing to take a new look at an anti-tax pledge they made. president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key here is whether or not the republicans will move away from the ideologically rigid position which has been the grover/norquist pledge which most of them signed that they will not go for addit
fiscal cliff, those tax increases and spending cuts that would kick in next year. lawmakers returned to washington yesterday amid some talk of compromise, but the issue of how to raise revenue remains a critical and hard to overcome sticking point. susan mcginnis is live in washington with more. >> reporter: those changes kick in if no alternative deal is made. as of now, both sides are still talking about their willingness to compromise, but when it comes to that main issue, raising tax rates, both sides are digging in. democratic senator dick durbin will give what's being called a major speech laying out a case for a bipartisan fiscal deal. he's a member of the senate's gang of eight, four democrats and four republicans who have collaborated on ways to reduce the nation's debt for two and a half years. democratic senator mark warner is part of the gang and says democrats are willing to put entitlements like medicaid and medicare on the negotiating table. >> the math just doesn't work anymore. not because the programs are bad, but because thank goodness, we're living a lot longer. >
bernanke is pushing for a compromise on the fiscal cliff. in a speech tuesday he said if president obama and congress can resolve the crisis unemployment would go down and the economy would grow. falling oil prices and an announcement that hewlett packard is taking a $9 billion write down. the dow lost just over seven points while the nasdaq was mostly unchanged. shares of home builders rallied on news that home construction jumped in october to a four year high. construction of apartment buildings was especially strong up 10%. and it looks like hostess's twinkie is cooked. the snack maker failed to reach mediation session. on monday a bankruptcy judge asked the two sides to meet. no agreement in place the judge will decide today if the maker of ho-ho, ding dongs and wonder bread can shut down their operations. hopefully other companies will swoop in and make those treats. >> it ain't over. you can't hold the twinkie down. >> i'm not sharing. >> ashley morrison here in new york. in sports this morning the lakers get a new coach and get a win. mike d'antoni made his debut as the lakers ne
Search Results 0 to 3 of about 4